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DeepNewz, mobile.
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China’s prime minister has traditionally held sway over economic policy. But Xi Jinping is starting to steal his thunder. What explains these changes? https://t.co/Xbui8fUjBy 👇
China has moved its exchange rate (blue) back to the top (weak) end of the 2% band around the fix (black). That's likely where we'll stay ahead of US elections. After the US imposed tariffs in 2017/8, RMB fell around 10% in short order. China is signaling it will do that again... https://t.co/vDHDKDNLvO
Not enough of you talking about China QE + U.S. future QE too ... the PIVOT is coming this year. All of it very bullish for $BTC ... https://t.co/QDmTFdIjRc
The People's Bank of China (PBOC) cuts the CNY Central Parity Rate by 2 pips to 7.0950 per USD, exceeding market expectations. China's yuan opens trade at 7.2251 per dollar, slightly lower than the previous close. PBOC injects 150 billion yuan via 7-day reverse repos at 1.80%, signaling potential monetary easing. Speculation arises about China starting quantitative easing (QE), with Xi Jinping possibly instructing PBOC to buy bonds. China's stock market sees a rise driven by bank strength offsetting falls in developers' stocks. The yuan weakens against the dollar, facing persistent downward pressure.